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Note 15 - Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2012
Pension and Other Postretirement Benefits Disclosure [Text Block] |
15. | Employee Benefit Plans
The Company and its subsidiaries maintain a defined contribution profit-sharing plan (401(k)) covering substantially all non-union persons employed by the Company and its subsidiaries, whereby employees may contribute a percentage of compensation, limited to maximum allowed amounts under the Internal Revenue Code. The Plan provides for discretionary employer contributions, the level of which, if any, may vary by subsidiary and is determined annually by each company’s board of directors. The Company made aggregate matching contributions of $570,000, $573,000, and $430,000 for the years ended December 31, 2012, 2011, and 2010, respectively. The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects:
· | Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
· | If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.
· | If the Company chooses to stop participating in some of its multiemployer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
The following table presents our participation in these plans (dollars in thousands):
Pension |  | Pension Plan Employer Identification |  | Pension Protection Act (“PPA”) Certified Zone Status1 |  | FIP / RP Status Pending |  | Contributions |  | Surcharge |  | Expiration Date of Collective Bargaining
Trust Fund |  | Number |  | 2012 |  | 2011 |  | / Implemented2 |  | 2012 |  |  | 2011 |  |  | 2010 |  | Imposed |  | Agreement3
Pension Trust Fund for Operating Engineers Pension Plan |  |  | 94-6090764 |  | Orange |  | Orange |  | Yes |  | $ | 508 |  |  | $ | 246 |  |  | $ | 193 |  | No |  | 6/30/2008 - 6/30/2014
Operating Engineers Local 428 Pension Trust Fund |  |  | 86-6025732 |  | Yellow |  | Yellow |  | Yes |  |  | 560 |  |  |  | 121 |  |  |  | -- |  | No |  | 1/1/2012 - 5/31/2013
Laborers Pension Trust for Northern California |  |  | 94-6277608 |  | Yellow |  | Yellow |  | Yes |  |  | 431 |  |  |  | 64 |  |  |  | -- |  | No |  | N/A5
Cement Mason Pension Trust Fund For Northern California |  |  | 94-6277669 |  | Yellow |  | Yellow |  | Yes |  |  | 265 |  |  |  | 46 |  |  |  | -- |  | No |  | 6/16/09 - 6/15/13
All other funds (41)4 |  |  |  |  |  |  |  |  |  |  |  | 3,777 |  |  |  | 2,065 |  |  |  | 1,307 |  |  |  | Various
Total Contributions: |  |  |  |  |  |  |  |  | $ | 5,541 |  |  | $ | 2,542 |  |  | $ | 1,500 |  |  |  |
1 | The most recent PPA zone status available in 2012 and 2011 is for the plan’s year-end during 2011 and 2010, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.
2 | Indicates whether the plan has a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) which is either pending or has been implemented.
3 | Lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.
4 | These funds include multiemployer plans for pensions and other employee benefits. The total individually insignificant multiemployer pension costs contributed were $466,000, $299,000 and $37,000 for 2012, 2011, and 2010, respectively, and are included in the contributions to all other funds along with contributions to other types of benefit plans. Other employee benefits include certain coverage for medical, prescription drug, dental, vision, life and accidental death and dismemberment, disability and other benefit costs. Due to our 2011 acquisitions (see Note 2) there has been an increase in the number of Sterling employees that participate in multiemployer plans affecting the comparability between 2012, 2011 and 2010 years. The acquisitions occurred August 1, 2011 and resulted in five months of pension and other retirement expenses in that year. During 2012, the Company incurred the entire year of expenses and there were no pension and other retirement expenses related to the acquisitions during 2010
5 | The expiration of the collective bargaining agreement related to this pension fund was not available at the time of our filing.
We currently have no intention of withdrawing from any of the multi-employer pension plans in which we participate.

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